Debt and consequences quiz

1 min read

Young adults are bombarded with credit cards offers — and so many accept that debt is as common as a cell phone. But what do you know about debt and its consequences? Find out.

  1. As a college freshman, you treat your friends to pizza and beverages at a restaurant. You break in your brand-new credit card by charging the meal — exactly $100. Your card charges a 16.99 percent fixed rate. You keep charging stuff, and for the next five years you always run a balance, so you’re always paying interest on that first $100. Finally, five years after the pizza bash, you pay your balance in full. How much did the meal finally cost?





    7 years

    10 years



    4.7 years

    1.2 years

    They don’t.




    your personal financial genius. You’re pitting all those credit card companies against each other! You rule!


    Better to work hard, take one’s time, and graduate debt-free.

    Better to get out of college quickly and work full-time in one’s career as soon as possible.

    It doesn’t matter.